ELIT eSupplier Solution – A Comprehensive Approach from Supplier Onboarding to Strategic Collaboration
The ELIT eSupplier portal offers an end-to-end solution, encompassing supplier onboarding to strategic collaboration. It structures and streamlines the entire supplier lifecycle, providing web-based applications for supplier qualification, onboarding, and comprehensive management. ELIT’s eSupplier solution empowers businesses to efficiently handle supplier information, automate processes throughout the supply chain, and achieve a comprehensive view of supplier data. This solution facilitates effective management of compliance, risk reduction, process visibility enhancement, and a reduction in P2P staff workload.
How it helps
By employing an electronic questionnaire with automated response summaries, ELIT empowers you to oversee supplier management, assess performance, and gauge potential risks. Utilizing the software subsequently facilitates strategic planning and evaluation of improvement initiatives. The self-service portal allows seamless collection of supplier data and legal documentation directly, providing suppliers the flexibility to manage their information at any time.
ELIT’s intelligent dashboards provide Accounts Payable (AP) specialists with a comprehensive overview of supplier information, recording and updating all changes and actions. Utilizing ELIT’s supplier registration online form allows swift confirmation and identification of incorrect data, aided by clear indicators. Furthermore, ELIT’s solution ensures accurate data matching with ERP supplier master data, preventing the creation of duplicate supplier records.
Efficiently search for and list every supplier along with their products, services, locations, certifications, specialties, and contacts using the Supplier Directory. This ensures automatic synchronization of suppliers with your key systems, facilitated by finance and Purchase-to-Pay (P2P) synchronization. The process is quick and collaborative, saving both time and money. With intuitive tools, you can customize questionnaires, score automated answers, and prioritize suppliers.
Effortlessly and instantly interact with suppliers through the ELIT portal. Self-service web tools empower suppliers to manage their profiles, submit quotes for jobs, receive purchase orders, upload invoices, and check their payment status.
ELIT automates supplier management to expedite the onboarding of new suppliers, sending automatic reminders to suppliers to update their information.
With intelligent and intuitive dashboards, gain insight into every step of the supplier onboarding and approval process. Suppliers can swiftly complete and submit their information using an easy-to-use supplier self-service portal.
ELIT supports bulk invoice uploads using RPA/AI methods. Now, suppliers can upload multiple invoices at once, and our AI system ensures accurate three-way matching with the Purchase Order, facilitating seamless invoice publication with minimal user interventions.
Supplier information is verified to ensure compliance with financial and regulatory standards, guaranteeing the accuracy of all provided information.
With ELIT software, you can accomplish:
- Increased sourcing capacity reduces the cost of disruptions caused by non-performance.
- A strong supplier relationship reduces the cost of non-compliance liability and increases savings from lower prices.
- Reduced cost of administrative support in AP and Procurement.
- Broader, better rationalized supplier base.
- Improved supplier management policy compliance and transparency.
How it benefits your business:
- Streamline Contract Renewals & Renegotiations: Managing your company’s contracts is crucial, but inefficient and siloed processes can lead to bottlenecks, impacting revenue and introducing risks. With ELIT, efficiently handle contract lifecycles, monitor contract spending, and stay on top of renewal deadlines using dashboard analytics, reports, and electronic notifications. The centralized contract repository ensures consistent processes across all departments.
- Enhance Efficiency & Collaboration in the P2P Cycle: ELIT’s automated platform covers the entire P2P cycle-from procurement and accounts payable to expense management and more-bringing unity, efficiency, and transparency to financial operations. This helps companies transform the way they purchase, book, and pay for goods and services.
In conclusion, ELIT’s eSupplier Solution provides a comprehensive approach, from supplier onboarding to strategic collaboration. This end-to-end solution streamlines the entire supplier lifecycle, offering efficient web-based applications for qualification, onboarding, and management. ELIT empowers businesses to handle supplier information, automate processes, and gain a comprehensive view of data, ensuring compliance, risk reduction, enhanced process visibility, and reduced P2P staff workload.
The platform’s electronic questionnaire and automated response summaries enable effective supplier management, performance assessment, and risk evaluation. ELIT’s intelligent dashboards offer AP specialists a comprehensive overview, recording changes and actions. The Supplier Directory facilitates efficient searching and listing of suppliers, ensuring automatic synchronization. The self-service portal allows instant interaction with suppliers.
Automation in supplier management expedites onboarding, supported by reminders for updates. ELIT supports bulk invoice uploads with AI, ensuring accurate three-way matching. Supplier information is verified for compliance, enhancing financial and regulatory adherence.
ELIT’s software brings multiple benefits, including increased sourcing capacity, strengthened supplier relationships, reduced administrative costs, a rationalized supplier base, and improved compliance transparency.
In addition, ELIT’s impact on business is evident in streamlined contract renewals and enhanced efficiency and collaboration throughout the P2P cycle. The platform’s centralized contract repository ensures consistency, and the automated P2P platform unifies financial operations, transforming procurement, accounts payable, and expense management.
In essence, ELIT’s eSupplier Solution is a comprehensive and transformative tool that optimizes supplier interactions, improves efficiency, and ensures compliance across various facets of the procurement process.